Fifteen South African green businesses have been selected for the Grindstone programme, which is supported by the Anglo American Foundation (AAF) and aims to empower entrepreneurs in the green sector.
Disrupt Africa reported in July the AAF had partnered with Grindstone, an accelerator renowned for engineering high-growth entrepreneurship, in a bid to foster sustainable practices and promote environmental stewardship, with a large focus on job creation for South Africa’s youth.
The 2023 Grindstone accelerator will run as a six-month programme designed specifically for post-seed to Series A green sector startups. Leveraging the ecosystem and strategic partners, Grindstone will recruit 15 high growth and innovation-driven green startups for this year’s accelerator.
The six-month programme will see Grindstone growth-engineer the selected startups, addressing gaps in their knowledge and business skills through in-depth workshops and monthly coaching sessions. The startups will learn from Grindstone’s alumni and established ecosystem network partners such as Green Cape and Savant, and join a community that includes sustainability focused investors.
The selected startups are VEZ Technology, Ground 2 Tap, I-N-TECH, Boombadotmobi, First Drop Hydration, Tsehla Holdings, GreenMovement, MKGreen Solutions, The Green Cab, Imperative Energy Group, Lilly Loompa Upcycled Homeware, RE:HEAT Africa, Isphepho Group, PWK Waste Management and Recycling, and Umlilo Energy South Africa.
“From solar power to waste management, to water filtration systems, this cohort of 15 startups are driving positive change in their communities across South Africa. At the Anglo American Foundation, we are proud to partner with Grindstone; together, we champion entrepreneurship that not only creates quality jobs, with a focus on youth, but also pave the way for a greener, more sustainable world,” said Maike Von Keymann, head of the Anglo American Foundation.
Catherine Young, managing partner at Grindstone, said the green sector was a rapidly growing one that needs to be met by an equivalent surge in impact investing.
“By supporting innovation in the green sector, including clean energy, decarbonisation, sustainable food production, climate-tech and more, we can improve millions of lives, as well as drive sustainable economic growth and job creation in vulnerable communities,” she said.
“Our partnership with the Anglo American Foundation will help South African entrepreneurs at the forefront of building a more sustainable future. It ties in perfectly with our own ESG focus, which is strengthened through partnerships like this.”